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Becoming a new O/O advice

Discussion in 'Ask An Owner Operator' started by Wespipes, Jul 14, 2019.

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  1. Jul 14, 2019 #1
    Wespipes

    Wespipes Road Train Member

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    About me: 15 years driving experience. Perfect driving record

    I'm looking to buy a new truck. Putting 80-100k down to bring my payments to about 1500 a month. After paying everything including insurance and such I'll have 50k operating capital My cost to operate is 1.24 pm I used high end averages to get this number. This includes all home expenses.

    I plan on going to landstar or a similar company for a year before getting my own authority to get my experience with booking my own loads and working with brokers

    I'm just curious what experienced O/O think of this plan?
     
    Wespipes, Jul 14, 2019
    Wespipes, Jul 14, 2019
    #1
    86scotty and JonJon78 Thank this.
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  3. Jul 14, 2019 #2
    Puppage

    Puppage Road Train Member

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    Best of luck to you
     
    Puppage, Jul 14, 2019
    Puppage, Jul 14, 2019
    #2
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  4. Jul 14, 2019 #3
    Bakerman

    Bakerman Road Train Member

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    @Dave_in_AZ , he can give you some insight on working with Landstar.
     
    Bakerman, Jul 14, 2019
    Bakerman, Jul 14, 2019
    #3
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  5. Jul 14, 2019 #4
    JonJon78

    JonJon78 Road Train Member

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    I would say your definitely ahead of the vast majority when it comes to having enough money when starting out...

    As for the 1.24 I wouldn't figure anything from your household into that number. I personally would keep the two separate.
     
    JonJon78, Jul 14, 2019
    JonJon78, Jul 14, 2019
    #4
    singlescrewshaker, FlaSwampRat and Wespipes Thank this.
  7. Jul 14, 2019 #5
    Wespipes

    Wespipes Road Train Member

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    That brings my cpm down to 1.02
     
    Wespipes, Jul 14, 2019
    Wespipes, Jul 14, 2019
    #5
    86scotty, JonJon78 and FlaSwampRat Thank this.
  8. Jul 14, 2019 #6
    JonJon78

    JonJon78 Road Train Member

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    Is trailer rental or purchase figured in? Does that include paying yourself?
     
    JonJon78, Jul 14, 2019
    JonJon78, Jul 14, 2019
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    Wespipes Thanks this.
  9. Jul 14, 2019 #7
    Wespipes

    Wespipes Road Train Member

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    Not paying myself. I will be buying a trailer. I did put 4800 yearly into my cpm for a trailer. Have 15k set aside for that. I've considered financing a new trailer. Not sure I want to go that route
     
    Wespipes, Jul 14, 2019
    Wespipes, Jul 14, 2019
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    JonJon78 Thanks this.
  10. Jul 14, 2019 #8
    Midwest Trucker

    Midwest Trucker Road Train Member

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    Always factor paying yourself. That’s is worth .60 a mile on the low end. It costs a lot of money more then what the actual pay is when you factor in other things like payroll match, workers comp, vacation, any benefits that are paid, etc.

    What happens if you get hurt and can’t drive? You going to go bankrupt? Or are you going to hire a driver to keep your company and livelihood going? So, you need to know your actual costs or you may think your doing better then you are or need to be.
     
    Midwest Trucker, Jul 14, 2019
    Midwest Trucker, Jul 14, 2019
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    Wespipes Thanks this.
  11. Jul 14, 2019 #9
    Old Man

    Old Man Road Train Member

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    What type trailer?
     
    Old Man, Jul 14, 2019
    Old Man, Jul 14, 2019
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    Wespipes Thanks this.
  12. Jul 14, 2019 #10
    Wespipes

    Wespipes Road Train Member

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    Dry van. Thought about reefer but reefer trailers are out of my league right now Maybe further down the road
     
    Wespipes, Jul 14, 2019
    Wespipes, Jul 14, 2019
    #10
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